Stocks of Park Hotels & Resorts Inc (NYSE:PK) traded higher last session on Wall Street, up 5.81% to $16.75.
PK stock price is now 26.21% away from the 50-day moving average and 29.85% away from the 200-day moving average. The market capitalization of the company currently stands at $3.52B.
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With the price target enhanced from $11 to $16, JP Morgan Upgraded its rating from Underweight to Neutral for Park Hotels & Resorts Inc (NYSE: PK).
In other news, Garrett Geoffrey, Director sold 14,000 shares of the company’s stock on Sep 14. The stock was sold for $179,656 at an average price of $12.83. Upon completion of the transaction, the Director now directly owns 31,777 shares in the company, valued at $0.53 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 16, Director Garrett Geoffrey sold 3,000 shares of the business’s stock. A total of $35,565 was realized by selling the stock at an average price of $11.86. This leaves the insider owning 33,604 shares of the company worth $0.56 million. Insiders disposed of 146,685 shares of company stock worth roughly $2.46 million over the past 1 year. A total of 2.49% of the company’s stock is owned by insiders.
During the past 12 months, Park Hotels & Resorts Inc has had a low of $10.70 and a high of $15.90. The fifty day moving average price for PK is $13.27 and a two-hundred day moving average price translates $12.90 for the stock.
The latest earnings results from Park Hotels & Resorts Inc (NYSE: PK) was released for Sep, 2023. According to the REIT – Hotel & Motel Company, earnings per share came in at $0.13, beating analysts’ expectations of $0.09 by 0.04. This compares to $0.18 EPS in the same period last year. The net profit margin was -2.07% and return on equity was -1.34% for PK. The company reported revenue of $679.0 million for the quarter, compared to $662.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.57 percent. For the current quarter, analysts expect PK to generate $647.11M in revenue.
